Global Partners LP (NYSE:GLP) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in Global Partners LP (NYSE:GLPFree Report) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,880 shares of the energy company’s stock after buying an additional 2,172 shares during the quarter. Avantax Advisory Services Inc. owned approximately 0.09% of Global Partners worth $1,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American Financial Group Inc. bought a new position in shares of Global Partners in the 3rd quarter worth about $459,000. Spinnaker Trust acquired a new position in Global Partners in the third quarter valued at approximately $220,000. D.A. Davidson & CO. grew its holdings in shares of Global Partners by 42.8% during the third quarter. D.A. Davidson & CO. now owns 18,350 shares of the energy company’s stock valued at $648,000 after purchasing an additional 5,500 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Global Partners by 22.6% during the 3rd quarter. HighTower Advisors LLC now owns 15,103 shares of the energy company’s stock worth $534,000 after purchasing an additional 2,784 shares during the period. Finally, Citigroup Inc. bought a new stake in shares of Global Partners in the 3rd quarter worth approximately $494,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Insiders Place Their Bets

In related news, insider Global Gp Llc bought 10,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $42.66 per share, with a total value of $426,600.00. Following the purchase, the insider now owns 27,981 shares in the company, valued at $1,193,669.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 41.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd.

Read Our Latest Analysis on GLP

Global Partners Stock Up 2.6 %

GLP stock opened at $44.48 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 2.23. The firm’s 50-day simple moving average is $45.87 and its 200 day simple moving average is $42.80. The stock has a market cap of $1.51 billion, a PE ratio of 16.54 and a beta of 1.33. Global Partners LP has a fifty-two week low of $27.07 and a fifty-two week high of $49.50.

Global Partners (NYSE:GLPGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Global Partners had a return on equity of 18.45% and a net margin of 0.71%. As a group, sell-side analysts predict that Global Partners LP will post 3.11 EPS for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend was Wednesday, May 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s payout ratio is 105.58%.

Global Partners Company Profile

(Free Report)

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

See Also

Want to see what other hedge funds are holding GLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLPFree Report).

Institutional Ownership by Quarter for Global Partners (NYSE:GLP)

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